AlphaQuest LLC Has $2.70 Million Stock Position in Texas Capital Bancshares, Inc. $TCBI

AlphaQuest LLC trimmed its position in Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 41.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,821 shares of the bank’s stock after selling 20,966 shares during the quarter. AlphaQuest LLC’s holdings in Texas Capital Bancshares were worth $2,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TCBI. AQR Capital Management LLC boosted its holdings in shares of Texas Capital Bancshares by 25.1% during the third quarter. AQR Capital Management LLC now owns 1,919,194 shares of the bank’s stock worth $162,229,000 after purchasing an additional 384,748 shares during the period. Balyasny Asset Management L.P. raised its position in Texas Capital Bancshares by 2,707.2% during the third quarter. Balyasny Asset Management L.P. now owns 348,936 shares of the bank’s stock valued at $29,496,000 after acquiring an additional 336,506 shares in the last quarter. Algert Global LLC raised its position in Texas Capital Bancshares by 731.5% during the third quarter. Algert Global LLC now owns 294,840 shares of the bank’s stock valued at $24,923,000 after acquiring an additional 259,380 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in Texas Capital Bancshares by 148.8% during the third quarter. Jupiter Asset Management Ltd. now owns 379,331 shares of the bank’s stock valued at $32,065,000 after acquiring an additional 226,872 shares in the last quarter. Finally, UBS Group AG raised its position in Texas Capital Bancshares by 56.8% during the third quarter. UBS Group AG now owns 403,692 shares of the bank’s stock valued at $34,124,000 after acquiring an additional 146,181 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Texas Capital Bancshares Trading Up 1.0%

Shares of Texas Capital Bancshares stock opened at $100.37 on Wednesday. The firm has a market capitalization of $4.38 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $98.24 and its two-hundred day moving average price is $96.24. Texas Capital Bancshares, Inc. has a 52-week low of $70.11 and a 52-week high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $323.99 million for the quarter, compared to analyst estimates of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current year.

Texas Capital Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st.

Insider Buying and Selling at Texas Capital Bancshares

In other news, Director Robert W. Stallings bought 5,500 shares of Texas Capital Bancshares stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $22.80 per share, for a total transaction of $125,400.00. Following the purchase, the director owned 175,087 shares of the company’s stock, valued at approximately $3,991,983.60. This trade represents a 3.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paola M. Arbour bought 1,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $91,500.00. Following the acquisition, the director owned 6,671 shares in the company, valued at $610,396.50. The trade was a 17.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 26,500 shares of company stock worth $670,700 in the last three months. Insiders own 1.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TCBI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Capital Bancshares in a research report on Wednesday, January 28th. Piper Sandler lifted their price target on shares of Texas Capital Bancshares from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Citigroup lifted their price target on shares of Texas Capital Bancshares from $88.00 to $96.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Texas Capital Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Texas Capital Bancshares has an average rating of “Hold” and an average target price of $104.09.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.